Geo Semi raising cash for automotive, IoT push
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Fabless video processor vendor Geo Semiconductor Inc. (San Jose, Calif.) is trying to raise between $25 million and $30 million to fund the completion of three 40nm chips targeted at automotive and IoT camera markets.
The privately-held company is doing so via a scheme known as convertible debenture financing, and claims to have already raised $14 million. The company already has a successful professional video processor business with customers that include Sony, Panasonic, Toshiba, Sharp and Samsung.
Geo, founded in 2009, is also a successful supplier of H.264 video codecs, a position it originally created by way of its acquisition of the digital video IC business of Maxim Integrated Products Inc. in 2012.
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